Commercial Crime Insurance Key Terms

Protect a business against theft with commercial crime insurance

Commercial crime insurance is a type of policy that protects a business in the case of theft, embezzlement, fraud and other white collar crimes. You choose the coverage amount and can rest assured you will be reimbursed if any of these acts are committed against your company.

Since commercial crime insurance is a fairly new type of protection, you should review a number of key terms in order to understand the way that the coverage works and what is included in the policy.

Crime insurance

The best way to start researching the terminology of crime insurance is to look at a definition of the phrase. Most agencies will define crime insurance as a policy type that protects against acts of robbery.

Mono-line policies

Mono-line policies are a sector of commercial crime insurance that is offered to businesses that with to take out the coverage without it packaged into other insurance plans. Typically, mono-line policies will offer higher cap amounts and options.

Employee dishonesty

Although coverage is offered for crime committed outside of the company, most crime insurance plans will include employee dishonesty protection. Employee dishonesty in the case of commercial crime insurance involves the embezzlement of money from the company.

Fidelity insurance

Fidelity insurance is another term given to commercial crime insurance. With fidelity insurance, you are protected against the loss of cash, securities or product inventory in the case of theft.

Commercial property insurance

With commercial property insurance plans, you may have inclusions for commercial crime coverage. A commercial property insurance plan typically covers burglary, fraud and other criminal acts committed on your commercial property. Many business owners package the two policy types together to have the most comprehensive coverage.

Business owner's policy

Another type of commercial crime insurance plan is the business owner's policy. Inclusions are typically criminal acts, property damage and liability claims. With this type of packaged plan, your business will not need separate commercial crime insurance.

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